Derco Rosal

1 week ago | mb.com.ph | Derco Rosal

false>Two-and-a-half-year-old Salmon Group Ltd, a Manila-based financial technology (fintech) firm, has raised $88 million to expand its efforts in delivering modern financial solutions and improving credit access across Southeast Asia. false>The funding includes a $60 million drawdown from a three-year, $150 million Nordic bond deal, along with $28 million in new equity from top United States (US) institutional investors, Antler Elevate, and Salmon’s existing shareholders.

1 week ago | mb.com.ph | Derco Rosal

The Marcos administration has borrowed below its planned ₱30 billion through the sale of long-term debt securities, as the Bureau of the Treasury (BTr) rejected bids seeking higher interest rates amid continued tensions between Israel and Iran. At the auction on Tuesday, June 17, the BTr awarded only ₱27.6 billion in reissued 10-year treasury bonds (T-bonds). Tenders totaled ₱55.4 billion, nearly twice the amount offered.

1 week ago | mb.com.ph | Derco Rosal

State-run Bases Conversion and Development Authority (BCDA) has remitted ₱2.04 billion in cash dividends to the Bureau of the Treasury (BTr), equivalent to 80 percent of its net income last year, the Department of Finance (DOF) reported. Apart from this being “the highest amount” the BCDA has contributed, the DOF noted that this amount also went beyond the DOF’s mandate for government-owned and controlled corporations (GOCC) to remit 75 percent of their net income.

1 week ago | mb.com.ph | Derco Rosal

Aside from strengthening governance to build investors’ confidence in developing countries like the Philippines, the Washington-based World Bank Group (WBG), the world’s largest development bank, said these economies should also increase job opportunities for women as local branches of foreign companies often hire more women.

1 week ago | mb.com.ph | Derco Rosal

Despite weaker investor demand and marginally higher interest costs, the government continued exceeding its ₱25-billion borrowing target, raising ₱26.7 billion from short-term debt papers, as it took advantage of still relatively stable borrowing costs ahead of potential inflation pressures and delayed interest rate cuts due to global factors.